Washington - National Association of Federal Credit Unions (NAFCU) President and CEO Fred R. Becker Jr. today issued the following statement regarding the National Credit Union Administration’s (NCUA) action on alternatives to credit ratings and the Temporary Corporate Credit Union Stabilization Fund (TCCUSF).
“NAFCU remains concerned with the NCUA’s final rule removing references to credit rating agencies. However, since credit unions will still be able to rely on credit ratings to measure risk, the NCUA needs to clarify this with examiners to ensure that the rule is applied uniformly and correctly across the industry.
“Regarding the TCCUSF, NAFCU has consistently urged the NCUA to keep any assessment on credit unions as low as possible and support the proper stewardship of the fund.”
The National Association of Federal Credit Unions is the only national organization that focuses exclusively on federal issues affecting credit unions, representing its members before the federal government and the public.
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The National Association of Federal Credit Unions is the only national organization that focuses exclusively on federal issues affecting credit unions, representing its members before the federal government and the public.